Business
NeoGenomics Announces Proposed Public Offerings of Common Stock and Convertible Senior Notes
FORT MYERS, FL / ACCESSWIRE / January 5, 2021 / NeoGenomics, Inc. (NASDAQ:NEO) (the "Company"), a leading provider of cancer-focused genetics testing services
About this update from Neogenomics, Inc.
[{"type":"text","content":"FORT MYERS, FL / ACCESSWIRE / January 5, 2021 / NeoGenomics, Inc. (NASDAQ:NEO) (the \"Company\"), a leading provider of cancer-focused genetics testing services and global oncology contract research services, today announced that it has commenced proposed underwritten public offerings of approximately $200,000,000 of newly issued shares of common stock (the \"common stock offering\") and $250,000,000 aggregate principal amount of convertible senior notes due 2028 (the \"notes\") (the \"notes offering\"). In addition, NeoGenomics expects to grant the underwriters of the offerings a 30-day option to purchase up to an additional (a) $30,000,000 of shares of its common stock at the public offering price, less underwriting discounts and commissions, and (b) $37,500,000 aggregate principal amount of the notes, less underwriting discounts and commissions and solely to cover over-allotments with respect to the notes offering. Neither the completion of the common stock offering nor the notes offering is contingent on the completion of the other. The offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the offerings.The notes will be senior, unsecured obligations of NeoGenomics, bearing interest semi-annually and are expected to mature on January 15, 2028, unless earlier converted or repurchased. Prior to the close of business on the business day immediately preceding September 15, 2027, the notes will be convertible at the option of holders only in certain circumstances and during certain periods, and thereafter, the notes will be convertible at any time until the close of business on the second business day immediately preceding the maturity date, in either case into cash, shares of NeoGenomics' common stock or a combination thereof, at NeoGenomics' election. The interest rate, initial conversion rate and other terms of the notes will be determined at the time of pricing of the notes offering.In connection with the pricing of the notes offering, NeoGenomics expects to enter into capped call transactions with one or more of the underwriters and/or their respective affiliates and/or other financial institutions (the \"option counterparties\"). The capped call transactions will cover, subject to anti-dilution adjustment...